Nicosia: The State Aid Control Commissioner, Stella Michaelidou, has issued a decision concerning a state grant to the Plug and Play Cyprus Innovation Center. The grant is aimed at covering the center's operating expenses, including staff salaries, general operating expenses, and the procurement of services from mentors and experts.
According to Cyprus News Agency, the Research and Innovation Foundation (RIF) is the authority responsible for implementing the Measure, which consists of a Funding Agreement between RIF and the Plug and Play Cyprus Innovation Center, along with its annexes. The Measure is designed to establish Cyprus as a leading innovation hub in the Eastern Mediterranean through three core service pillars: Business Acceleration Programs, Corporate Innovation Services, and Services to Research Organizations.
The grant's beneficiary is Plug and Play Cyprus, with the legal basis being Regulation (EU) No. 651/2014 of the Commission dated June 17, 2014. Decision No. 481 will be available on the Office of the State Aid Control Commissioner's website and was published in the Official Gazette of the Republic on April 17, 2026.